Royal Fund Management LLC purchased a new position in Norfolk Southern Corp. (NYSE:NSC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 263 shares of the railroad operator’s stock, valued at approximately $38,000.
A number of other hedge funds also recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC lifted its stake in Norfolk Southern by 34.1% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,583 shares of the railroad operator’s stock worth $1,983,000 after purchasing an additional 3,454 shares in the last quarter. AGF Investments Inc. purchased a new stake in Norfolk Southern in the 1st quarter worth $316,000. Commerce Bank lifted its stake in Norfolk Southern by 6.1% in the 1st quarter. Commerce Bank now owns 46,056 shares of the railroad operator’s stock worth $6,724,000 after purchasing an additional 2,657 shares in the last quarter. Trexquant Investment LP purchased a new stake in Norfolk Southern in the 1st quarter worth $1,419,000. Finally, Hancock Whitney Corp lifted its stake in Norfolk Southern by 98.5% in the 1st quarter. Hancock Whitney Corp now owns 54,686 shares of the railroad operator’s stock worth $7,984,000 after purchasing an additional 27,143 shares in the last quarter. Institutional investors and hedge funds own 72.51% of the company’s stock.
Norfolk Southern stock opened at $171.47 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.78. Norfolk Southern Corp. has a 1-year low of $112.62 and a 1-year high of $219.88. The firm has a market capitalization of $43.69 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The company’s 50-day moving average is $161.52 and its 200 day moving average is $181.86.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 29th. The railroad operator reported $2.58 EPS for the quarter, topping the Zacks’ consensus estimate of $2.25 by $0.33. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.57 billion. Norfolk Southern had a net margin of 21.89% and a return on equity of 18.12%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 EPS. Research analysts anticipate that Norfolk Southern Corp. will post 8.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a $0.94 dividend. The ex-dividend date is Thursday, May 7th. This represents a $3.76 dividend on an annualized basis and a yield of 2.19%. Norfolk Southern’s dividend payout ratio is currently 36.36%.
Several analysts have commented on NSC shares. Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $180.00 price target on the stock in a research note on Friday, May 1st. Credit Suisse Group upped their target price on shares of Norfolk Southern from $182.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $189.00 to $199.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. UBS Group upped their target price on shares of Norfolk Southern from $166.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Cowen decreased their target price on shares of Norfolk Southern from $200.00 to $197.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $189.73.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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